The crucial support for Nifty is placed at 11,100 while on the upside, the index is likely to find tough resistance around 11300
The company has entered into a definitive agreement to sell its engineering plastics business to DSM, the life sciences and materials sciences company, in an all-cash transaction, amounting to Rs 320 crore.
Net Sales are expected to increase by 25 percent Y-o-Y (up 2.6 percent Q-o-Q) to Rs. 2,015.6 crore, according to Kotak.
Trends on SGX Nifty indicate a flat to negative opening for the broader index in India, a fall of 31 points or 0.29 percent. Nifty futures were trading around 10,861-level on the Singaporean Exchange.
During the week, the Nifty made a low of 10,536 but recovered swiftly to come near the vicinity of its vital highest Call strike of 11,000
Breaking below 10,750 levels could lead to pressure in the market, says Ashish Chaturmohta of Sanctum Wealth Management.
VIX continues to consolidate at elevated levels which is a cause of concern. VIX needs to move below 17 for market to see sustainable up move, says Ashish Chaturmohta of Sanctum Wealth Management
Motilal Oswal is bullish on SRF has recommended buy rating on the stock with a target price of Rs 2408 in its research report dated November 03, 2018.
Geojit is bullish on SRF has recommended buy rating on the stock with a target price of Rs 2128 in its research report dated June 07, 2018.
Edelweiss is bullish on SRF has recommended buy rating on the stock with a target price of Rs 2168 in its research report dated May 18, 2018.
Sudarshan Sukhani of s2analytics.com recommends buying Mahindra & Mahindra with stop loss at Rs 820 and target of Rs 850, a buy in Mindtree with stop loss at Rs 1020 and target of Rs 1065 and a buy also in Godrej Consumer Products with stop loss at Rs 1090 and target at Rs 1135.
Debt at the end March 2018 stood at Rs 2,757 crore, an increase of 39 percent compared to Rs 1,976 crore in March 2017.
Total income rose to Rs 1,625.30 crore in the fourth quarter from Rs 1,442.37 crore in the corresponding period of the previous year.
Rajesh Agarwal of AUM Capital recommends buying Indian Oil Corporation with stop loss at Rs 162 and target at Rs 173, a buy in Arvind with stop loss at Rs 412 and target at Rs 430 and a buy also in State Bank of India with stop loss at Rs 245 and target at Rs 257.
"The ‘RSI-Smoothened’ on the daily chart has surpassed the 70 mark, which we believe would provide the impetus for the next leg of the rally. Hence, we recommend buying for a target of Rs.2060. Traders are advised to follow strict stop loss at Rs 1885, says Sameet Chavan of Angel Broking.
Sudarshan Sukhani of s2analytics.com suggests selling ONGC, SRF and Marico.
Total income increased to Rs 1,301.64 crore in the second quarter of this fiscal from Rs 1,222.30 crore in the corresponding period of the previous year.
Satish Gupta of astrostocktips is of the view that Raymond, SRF, Arvind, Indocount Industries and Rupa & Co will get astrological support.